Under management’s plan, the company will be returned to the control of  Donald Trump, and stiffs bondholders to the tune of $1.25 billion. Under the bondholder’s plan, the bondholders and Coastal Development would pump $15 million into Trump Entertainment, and Trump Entertainment would sell its Marina Hotel Casino for $75 million; the bondholders and some unsecured creditors would be granted 5% of the reorganized company’s common stock.

The bondholder’s motion also seeks a receiver to examine management’s conduct during bankruptcy settlement negotiations.  The hearing on the matter is set for this coming Thursday in a Camden, NJ, bankruptcy court.